Home Finance Bears open stock market trading for the Week, ASI down 0.2%

Bears open stock market trading for the Week, ASI down 0.2%

by Business News Report

The domestic market resumed trading activities on a negative note today, following selloffs on ETI (-9.5%), INTBREW (-9.7%), and GTCO (-1.6%). As such, the benchmark index shed 20bps to 43,838.08 points, YTD return moderated to 2.6% (previously: 2.8%), while market capitalisation declined by ₦40.0bn to ₦23.8tn. Meanwhile, activity level varied as volume traded rose 31.1% to 161.0m units while value traded fell 21.1% to ₦3.4bn.

Across sectors within our purview, performance was bearish as 4 indices lost, 1 gained while the Industrial Goods index closed flat. The Banking index led laggards, down 0.8% owing to price decline in ETI (-9.5%) and ZENITH (-0.5%). Similarly, the Consumer Goods and Oil & Gas indices dipped 0.4% apiece due to sell-offs in INTBREW (-9.7%), VITAFOAM (-0.7%), and OANDO (-2.2%). Trailing, the AFR-ICT index fell 2bps due to sell pressure on MTNN (-5bps). On the flip side, the Insurance index appreciated by 0.3% due to buy interest in NEM (+6.6%).

Investor sentiment, as measured by market breadth, faltered to -0.14x (previously: -0.03x) as 8 stocks gained, 19 lost while 79 closed flat. Tomorrow, we expect profit-taking activities to persist amid weak investor sentiment.

Market Cap (₦’bn)                                     23,877.97

Market Cap ($’bn)                                             54.20

NGX All-Share Index                                43,839.08

Daily Performance %                                        -0.20

WTD Performance %                                        -0.20

MTD Performance %                                      -10.60

QTD Performance %                                       -10.60

YTD Performance %                                          2.60

Daily Volume                                                  161.10                                     

Daily Value (₦’bn)                                              3.50

Daily Value ($’m)                                                7.90                            

Sectoral Indices Performance

NGX 30                                                              -0.20

NGX BANKING INDEX                                  -0.80

NGX INSURANCE INDEX                               0.30                        

NGX CONSUMER GOODS INDEX                -0.40

NGX OIL/GAS                                                   -0.40

NGX LII                                                               0.00

NGX INDUSTRIAL GOODS INDEX                0.00            

NGX-AseM                                                          0.00

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